Ledger CTO says Drift hack resembles Bybit attack method

The recent $285 million hack of Drift (DRIFT) may have been carried out using a method similar to an attack on Bybit in February 2025, according to Ledger CTO Charles Guillemet. In a post on X, Guillemet explained that the protocol's controlling multisig wallet was likely compromised. He suggested that attackers may have infiltrated the devices of multiple signers and tricked them into approving malicious transactions, believing they were authorizing routine operations. Guillemet added that the attack could have started weeks before the funds were actually drained. He noted the similarity to the Bybit hack, which resulted in the theft of approximately $1.4 billion in cryptocurrency.